Technical analysis by tradecitypro about Symbol FET: Buy recommendation (6/2/2025)

👋 Welcome to TradeCity Pro!In this analysis, I’ll be reviewing the FET coin — one of the popular projects in the AI space.✔️ This project’s token currently holds a market cap of $1.75 billion and ranks 48th on CoinMarketCap.⏳ 4-Hour TimeframeOn the 4-hour chart, we can see an uptrend in place. However, in its latest leg up to 0.923, the trend has weakened significantly and lost momentum.💥 After getting rejected at 0.923, the price saw a deep correction down to 0.718 and failed to form a higher low — a clear sign of weakness in the bullish trend.🔍 The 0.718 level is a crucial support, and breaking below it could trigger a long-term short position targeting 0.639.✨ A confirmation for this short setup would be an RSI drop into the oversold zone along with increased selling volume. For now, sell volume is low and offers no confirmation yet.🔔 On the long side, if the 0.764 level is broken, we can consider that 0.718 has held as support, allowing for a potential long entry.🧩 In my view, even if this trigger activates and the price moves higher, it’s likely to form a lower high or retest the 0.923 level without breaking it. A breakout beyond 0.923 seems unlikely for now.📈 For the long setup, RSI confirmation would come with a break above 42.05. As market volume is still declining, we’ll need to wait for increased buy volume to strengthen the bullish case.📝 Final ThoughtsThis analysis reflects our opinions and is not financial advice.Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️